Taiwan ranked 16th in this year’s global talent ranking by the International Institute for Management Development, climbing four spots from last year on the back of better employment training and initatives to attract foreign professionals, the Switzerland-based group said yesterday.
The survey compared the performance of 64 economies worldwide with regard to talent investment and development, appeal and readiness, the institute said.
Switzerland topped the list for the fifth straight year.
Photo: I-Hwa Cheng, Reuters
The survey showed that employees are more motivated in more competitive economies, the institute said, attributing the trend in part to the COVID-19 pandemic.
Sweden ranked second, followed by Luxembourg, Norway and Denmark.
The National Development Council, which provided the data for Taiwan, said that the nation improved its ranking on the back of higher scores in the talent investment and development gauges, as it improved its ability to attract and retain talent.
Over the past two years, foreign professionals and overseas Taiwanese talent have increasingly opted for Taiwan, where COVID-19 had limited effect on daily lives, foreign trade groups said.
However, this advantage might abate if Taiwan keeps its tight COVID-19 curbs in place while most of the world loosens restrictions, the European Chamber of Commerce Taiwan said, adding that strict border controls and quarantine requirements pose challenges for internationally operating firms.
Taiwan’s ability to connect with the world lifts its global competitiveness and presence, despite its COVID-19 strategy risking to isolate the country, the trade group said.
Regionally, Taiwan ranked third, behind 11th-ranked Hong Kong and 12th-ranked Singapore, the institute said.
South Korea ranked 34th, and China ranked 39th, it said.
Taiwan’s score was boosted by substantial improvements in its apprenticeship system and valuation of employee training, the institute said, adding that the nation ranked seventh and fifth on the respective sub-indices.
The council said that the government has tried hard to build bridges between educational institutions and the private sector.
However, Taiwan has a lot of room for improvement in public education spending, ranking 50th in the survey and losing five spots since last year, the council said.
The government has earmarked NT$15 billion (US$541.32 million) for a special program to upgrade digital infrastructure at schools and is planning to spend another NT$20 billion on Internet applications at elementary and junior high schools, the council said.
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